updated 07:47 am EDT, Tue August 7, 2012

HTC continues to bleed sales and market share

HTC's financial woes have continued into the month of June as it struggles with dwindling sales and falling revenues, reports DigiTimes. After issuing a revised forecast for the current quarter last week, the company has reported its revenues are down a further 16.7 percent for July to just $844 million. This marks a 44.5 percent decrease in revenue year-on-year for the same month as it struggles to capture market interest in its critically well-received One range of Android smartphones.

Unsurprisingly, its share price also dipped its maximum daily allowable fall of 7 percent under Taiwan Stock Exchange rules. Despite its One X and One S models getting generally strong reviews around the globe, it has failed to recapture the sales it enjoyed before Samsung started to dominate the Android handset market with its Galaxy range of smartphones and tablets. Recently, Amazon slashed its entry price on the flagship One X to just $80 on AT&T on a two-year contract to help stimulate sales.

Further compounding its problems, Apple is also set to release a new iPhone in the coming weeks, which will also further squeeze its margins. To help counter the Galaxy S III and the next-generation iPhone, it has a One X+ with an upgraded 1.7GHz quad-core Tegra 3 processor in the pipeline as well as a rumored 5-inch device with a 1080p display set for a September/October release. However, analysts are not convinced that the company, which is much smaller than both Samsung and Apple, will be able to compete on the same terms as the two dominant tech titans of the era.